New CEO of Mizrahi Tefahot bank - Moshe Larry the leading candidate

Leading candidate for the post of CEO Mizrahi Tefahot, Vice President of the Bank Moshe Larry was officially appointed: Mizrahi-Tefahot Board of Directors today adopted the recommendation of the Detection Committee for the CEO position (chaired by the Chairman of the Board of Directors Moshe Weidman) and decided that VP And Finance Division Manager Moshe Larry will be appointed Mizrahi-Tefahot's next general manager.
Weidman said: "The members of the detection committee were very impressed by Moshe Larry's many capabilities, his rich experience and significant contribution to the bank's achievements to date, as well as his world view on the challenges and future directions of Mizrahi-Tefahot's actions. We are confident in his ability to lead the bank together. With our thousands of excellent employees and managers, successes are also evident in the years to come. " Prior to his current position, Larry served as VP and member of the Bank's Management: first as Chief Risk Officer and later as Director of the Planning, Operations and Client Assets Division.
In February, current CEO Eldad Fresher announced his intention to quit his post after a seven-year term. The board set up a search committee to find a replacement, but shortly thereafter the Corona crisis erupted and the search committee's activities were frozen. And it was decided that it was inappropriate to interview candidates for the CEO position through zoom calls. As Calcalist recently announced, with the opening of the economy and the return to normal, the committee's activities were recently resumed.
Larry's choice, and internal rather than external, also reflects a desire to prevent management shocks during the challenging period when both households and the business and commercial sectors are facing the consequences of the Corona crisis. The key challenge he will face will be dealing with the aforementioned economic crisis. Mizrahi Tefahot is the largest player in the mortgage industry, and a challenging period is expected in the wake of rising unemployment, and the fact that one-quarter of the mortgage payments in the economy were frozen during the crisis. The merger saga has been going on since November 2017.